Construction Asphalt Market Scope
Asphalt refers to the material used in construction, paving, roofing, and others. Growing construction infrastructure in both developing and developed economies expected to generate lucrative opportunities in the asphalt market as it is longlasting and resistance to damage. Further, market players are focussing on product innovation such as fire resistant, reusable, and recycling of asphalt expected to drive construction asphalt market over the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | BP (United Kingdom), CEMEX (Mexico), Exxon Mobil Corporation (), Imperial Oil (Canada), Owens Corning (United States), Shell International (United Kingdom), Total (France), KzoNobel NV (Netherlands), E. I. du Pont de Nemours and Company (United States), Arkema SA (France), Honeywell International, Inc. (United States), Evonik Industries (Germany) and Huntsman Corporation Kraton Corporation (United States) |
CAGR | 7.5% |
Numerous players are present in Asphalt Market, Hence market is fragmented. As the emerging economies increased expenditure on infrastructure asphalt market is expected to grow for the foretasted period. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Construction Asphalt market throughout the predicted period.
BP (United Kingdom), CEMEX (Mexico), Exxon Mobil Corporation (), Imperial Oil (Canada), Owens Corning (United States), Shell International (United Kingdom), Total (France), KzoNobel NV (Netherlands), E. I. du Pont de Nemours and Company (United States), Arkema SA (France), Honeywell International, Inc. (United States), Evonik Industries (Germany) and Huntsman Corporation Kraton Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Ingevity Corporation (United States), Arrmaz (United States), Sasol Limited (South Africa) and The Dow Chemical Company (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Construction Asphalt market by Type , by Application (Road Construction, Paving, Roofing, Water Proofing, Insulation, Adhesive, Airport Pavement and Other) and Region with country level break-up.
On the basis of geography, the market of Construction Asphalt has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Recently. Shell International launched a fire resistant asphalt which has application in both residential segment and construction.
Construction Asphalt Market Dynamics:
Attributes | Details |
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Trends Influencing Market | - Growing Use of Polymer Modified Asphalt, Hot MIX, and Cold Mix Asphalt
- Increasing Application as Water Proofing Material for Roofing
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Key Restraints | - Adverse Effects Associated to Material used in Asphalt Production
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Challenges | - High Maintenance Cost associated with Asphalt Construction
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Market Opportunities | - Increasing Use in Paving Applications
- Emphasizing on Durable Material for Construction
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Key Target Audience
Construction Asphalt Manufacturers, Construction Asphalt Distributors and Suppliers, Government Agencies, Research Institute, Market Research Firms and Others